A crisis with global recession written all over it

OIL prices are staying stubbornly high and governments internationally are struggling to deal with this increasingly worrying trend.

From 2000 onwards, prices have headed upwards and have gone from $20 a barrel to near $140 today.

Just recently executives from the five biggest international oil companies were hauled before the US Congress to explain the massive price hikes and they claimed they were as much victims of high oil prices as US consumers